Corporate India's deal activity witnessed a 58 per cent jump in value terms to USD 3.1 billion in July, largely driven by big-ticket transactions, while caution in the private equity world led to a reduction in overall volumes.
According to data collated by Grant Thornton, the month of July recorded 95 deals worth USD 3.1 billion, registering a 46 per cent plunge in volume terms and 58 per cent increase in value terms.
Shanthi Vijetha, a partner at the consultancy, said the impact of the global slowdown is visible in the deal street which has been subdued since the beginning of the year.
While cross-border transactions propelled the surge in deal value, caution in the private equity world led to a reduction in overall volumes, Vijetha said.
This surge in deal value was anchored by 29 deals valued at USD 2 billion, where six high-value transactions encompassing traditional sectors like IT, auto, retail, and manufacturing took the centre stage.
The deal value was driven by Proximus Opal's 58 per cent controlling stake acquisition in Route Mobile for USD 721 million.